Zee Entertainment Enterprises Q4 PAT up 7% at Rs 232 cr

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Zee Entertainment Enterprises today reported a 7.26 per cent increase in consolidated profit after tax (PAT) at Rs 231.9 crore for the fourth quarter ended March 31, 2015.

The company had posted a consolidated PAT of Rs 216.2 crore in the year-ago period, Zee Entertainment Enterprises (ZEE) said in a filing to the BSE.

Operating revenue for the period under review stood at Rs 1,347.1 crore as against Rs 1,158.8 crore a year earlier, up 16.27 per cent.

 

ZEE Chairman Chairman Subhash Chandra said: "Our performance in this quarter is reflective of the investments we are making to further enhance our market position. We continue to pursue opportunities in existing and new markets that will yield long-term growth."

Terming the performance as "satisfactory", ZEE Managing Director & Chief Executive Officer Punit Goenka said: "We also witnessed a sustainable growth in our subscription revenues in this period, and with the implementation of digitisation in phase III and IV, we expect to see our subscription revenues grow further in future."

Advertising revenue increased to Rs 669.7 crore during the quarter as against Rs 582.4 crore in the year-ago period, the company said, adding that subscription revenue stood at Rs 510.8 crore against Rs 463.5 crore in the same period of the previous fiscal.

For 2014-15, consolidated PAT stood at Rs 975.5 crore as against Rs 890 crore in the previous fiscal, up 9.6 per cent.

Operating revenue for the fiscal stood at Rs 4,883.7 crore compared with Rs 4,421.7 crore in 2013-14, up 10.44 per cent, the company said.

On the outlook, Goenka said: "We believe that change is the only constant and strive to explore innovative and path-breaking avenues to entertain our audiences in the domestic and international space."

The company's board approved the restructuring of its digital operations with the transfer of Ditto TV business division to its wholly-owned subsidiary.

"The said subsidiary shall handle, and be responsible for, besides Ditto TV, digital properties, including websites, apps, of the Group and monetisation of digital revenues across platforms/geographies," the company said.

The stock of Zee Entertainment Enterprises was trading at Rs 314.40 in the afternoon trade, down 1.23 per cent, from the previous close on the BSE.